Pzena Investment Management LLC Takes $65.08 Million Position in CVS Health Co. (NYSE:CVS)

Pzena Investment Management LLC bought a new position in shares of CVS Health Co. (NYSE:CVSFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 824,250 shares of the pharmacy operator’s stock, valued at approximately $65,083,000. Pzena Investment Management LLC owned approximately 0.06% of CVS Health at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. InterOcean Capital Group LLC lifted its holdings in shares of CVS Health by 96.2% in the fourth quarter. InterOcean Capital Group LLC now owns 245,386 shares of the pharmacy operator’s stock valued at $19,376,000 after buying an additional 120,327 shares during the period. Franklin Resources Inc. lifted its holdings in CVS Health by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 10,565,389 shares of the pharmacy operator’s stock valued at $834,243,000 after acquiring an additional 146,378 shares during the last quarter. Brandes Investment Partners LP boosted its position in shares of CVS Health by 12.8% during the 4th quarter. Brandes Investment Partners LP now owns 1,383,429 shares of the pharmacy operator’s stock valued at $109,236,000 after purchasing an additional 156,562 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in shares of CVS Health by 34.0% in the 4th quarter. CreativeOne Wealth LLC now owns 7,726 shares of the pharmacy operator’s stock worth $610,000 after purchasing an additional 1,961 shares in the last quarter. Finally, L.M. Kohn & Company lifted its stake in CVS Health by 4.3% during the fourth quarter. L.M. Kohn & Company now owns 20,173 shares of the pharmacy operator’s stock valued at $1,593,000 after purchasing an additional 839 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 0.1 %

CVS traded up $0.08 during midday trading on Wednesday, hitting $57.40. 5,846,722 shares of the company’s stock traded hands, compared to its average volume of 11,910,689. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The company has a market cap of $72.06 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56. The stock’s fifty day simple moving average is $68.33 and its 200-day simple moving average is $72.24. CVS Health Co. has a one year low of $53.70 and a one year high of $83.25.

CVS Health (NYSE:CVSGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 EPS. As a group, equities analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.63%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several research reports. Barclays dropped their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. SVB Leerink reaffirmed a “market perform” rating and set a $60.00 target price (down from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Cantor Fitzgerald cut CVS Health from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $87.00 to $58.00 in a research note on Wednesday, May 1st. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and decreased their target price for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Finally, Royal Bank of Canada cut their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $76.75.

Check Out Our Latest Research Report on CVS Health

Insider Transactions at CVS Health

In other news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.

About CVS Health

(Free Report)

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.

Further Reading

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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